Los Angeles daily herald., 1887-07-10
DAILY HERALD.
LAND SLIDES.
A Not Uncommon Thing
u This Country.
REAL ESTATE VERY RAPID.
NnOrmOus Transfers-Effect of the
New Location of the
5. p. Depot.

>. L. DepOt.
week has seen no diminution
T1ctivity of the real estate mar
Serybody seemingly wants to
the real estate agents, who
ber quite small army and
laying up treasure where
AssociAk in and rust corrupts and
VIRdof thing, are at their Wits
polpply the great demand. If a
.llroad laborer comes to town with
mis- modest monthly wages which he
intends to squander at some illumin-
ated palace of pleasure he is imme-
diately arrested by hearing of some
man who three months ago put $50 on
lot and yesterday sold out for $4,000.
Consequently Pat does not indulge in
round of hilarity while in the city,
but pays the first installment on a lot
and goes back to work indulging in
dreams of wealth which in most cases
will be realized.
There is actually no cessation to the
boom. Each part of the city in turn
is invaded by it and there is yet to be
found man who wears sour face on
account of buying foot OF land in
Southern California. OF course the
fellows who bought land cheaply and
sold it at handsome profit and after
wards saw the same land sold for
fabulous sums feel "a little blue, but
as a general thing the greatest good
feeling prevails and everybody is
happy and those who are wise enough
to invest in realty are rapidly waxing
rich.
EFFECTS OF DEPOT REMOVALS.
One of the most startling advances
in real estate has been in the vicinity
of the lately located depots. When
the A. T. & S. F. established its
modest and unpretentious little plat
form for the accommodation of pas
sengers and erected tool shed and
ice house at the corner of First street
and Santa Fe Avenue, real estate in
that vicinity began to increase in value
and numerous instances are given of
where property jumped at least 300
per cent. This was then considered a
favored LOCALITY, but when the 5. p.
finally decided to erect its uptown
passenger depot on the Wolfskill tract
at a point near the corner of Second
and Alameda street, property in that
portion Of town went to a higher fi,,-
ure than the widest flights of any
operator had ever scared. On this
4. t,afIx in
terviewed number of prominent real
estate men and they were unanimous
in the opinion that property had in
creased in the vicinity of the new depot
of the s. p. at least 400 per cent.
The John p Moran tract, which is
quite five blocks from the new depot,
was put upon the market on May list
and the lots were scheduled at from
800 to 5000; to-day they range from
$17O0 to $4,000
J. Marion Brooks bought the Phil
bin tract for $125 900, which he has
cut up into 29O lots and which he now
considers worth double what he paid
for it.
The Kaspare Cohn tract, on Wolf
skill street near Alameda, containing
48 acres, was sold for $65 900. 1t was
resold to a syndicate, consisting of
Messrs. Day, Hinton, Mathes, Os-
borne, Bulla and others, for $2400
per acre, and ten days ago the syndi-
cate refused $34O0 per acre.
John Goldsworthy purchased ten
acres on Wolfskill street, below the
new depot, and in dozen days re-
fused $12, 900 profit on it.
The sales in the Clement tract on
First street, across the river, are so
rapid that the people having it in
charge are hardly able to take in the
money for lots.
r. A. Ling about year and half
ago bought eighteen acres near the
County Hospital for $1l ,00O,. and he
now holds it at $4,000.
SOME EXPRESSIONS.
Mr.. S. Robbins said that the most
rapid increase in the value OF property
in the city had been between Main
street and Santa Fe avenue in the
vicinity of Second street, due to the
establishment of the depot at the foot
of First street. He particularized sew
eral instances where the advance in
value had been very great. In one in
stance, on the corner of Second, Geor-
eia and Hewitt streets, the value OF a
lot increased $4,000 in less than a
week and only recently. The original
price was 800 for the corner and
now $27, 800 has been fixed. Another
piece of property which has increased
in value is a 10-acre tract in the
southern part of the city which had
risen from $40, 900 to $40 900 in very
short time, due to the proposed loca-
ton of the depot on the Wolfskill
tract. Other properties in both vicin-
tiles had advanced in like proportions.
Mr.. McGown, of Billings q McGown,
said that there had been steady in
crease in the values of all properties
in the vicinity of the Santa Fe depot
and of the Wolfskill tract and he an
ticipated further rise before the fall.
nj. i. Wicks, who had just returned
from trip to the East, said that while
he knew but little of what had trans
pired during his absence, he was aware
that there had been great advance in
ali properties between Main street and
the river, in the vicinity Of the depots.
He anticipated gr ater rise before
the fall.
FEW iAws.
The capital stock represented in the
two companies Incorporated yesterday,
the Long Beach Development Com,
many and the Nadeau Land Vineyard
Company, amounts to $2,2OO,Oo0. In
the first-named company Messrs.
Goucher. Records and Wiltshire, of
this city, have invested to the amount
Of 5000 200 each, and in the Nadeau
Vineyard Company General Bouton
has taken 5000, 900 worth of stock.
Mrs. Gertie A. White, a daughter OF
the late Remi Nadeau, has also invest.
ii =; tha last-named venture and